More on JPMorgan's investor day (previous): Some see JPM's plan to cut 13-15K in its mortgage...

More on JPMorgan's investor day (previous): Some see JPM's plan to cut 13-15K in its mortgage banking unit as a signal of employment losses or weakening housing. The cuts, however, are coming in the servicing area, not production. It's old news that the big banks - not wishing to tie up capital - are selling servicing assets to the likes of OCN, NSM, NCT, and WAC among others, who, no doubt, are busy hiring.